Historical – MoneyScience

Physicists on Wall Street and Other Essays on Science and Society: Reflections in Science, History, and Finance

Over the years, Jeremy Bernstein has been in contact with many of the world’s most renowned physicists and other scientists, many of whom were involved in politics, literature, and language. In this diverse collection of essays, he reflects on their work, their personal relationships, their motives, and their contributions. Even for those people he writes … Read more

Models.Behaving.Badly.: Why Confusing Illusion with Reality Can Lead to Disaster, on Wall Street and in Life

Emanuel Derman was a quantitative analyst (Quant) at Goldman Sachs, one of the financial engineers whose mathematical models became crucial for Wall Street. The reliance investors put on such quantitative analysis was catastrophic for the economy, setting off the ongoing string of financial crises that began with the mortgage market in 2007 and continues through … Read more